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When a bond issued at face value is retired what is the journal entry?
When a bond issued at face value is retired, the journal entry involves debiting the Bonds Payable account for the face value of the bond and crediting the Cash account for the same amount. The entry reflects the payment of the bond's principal amount to the bondholders. If there are no premiums or discounts involved, this is a straightforward transaction, as no gain or loss is recorded. The journal entry would look like this: Debit: Bonds Payable Credit: Cash
What is a compound entry?
Accounting: A journal entry that has more than one debit or credit value
Invested 1500 into business plus supply value 500. what is the accounting journal entry for this problem?
Invested $1500 to start the business plus supply value $500. what is the accounting journal entry for this problem?
Journal entry for sales and sales return?
Journal entry for booking a sale:Accounts Receivable/Party [Debit] $value$Sales [Credit] $value$Tax on sales (GST. excise, etc.) [Credit] $value$Primarily, it is a reversal of the entry passed at the time of booking the sale:Sales [Debit] $value$Tax on sales [Debit] $value$(GST. excise, etc.)Accounts Receivable/Party [Credit] $value$
Issued capital vs subscribed capital?
Issued capital refers to the total value of shares that a company has made available to shareholders, while subscribed capital is the portion of issued capital that shareholders have committed to purchase. Essentially, all subscribed capital is part of issued capital, but not all issued capital is necessarily subscribed if shares remain unsold. The distinction is important for understanding a company's funding status and shareholder commitments.
When a bond issued at face value is retired what is the journal entry?
When a bond issued at face value is retired, the journal entry involves debiting the Bonds Payable account for the face value of the bond and crediting the Cash account for the same amount. The entry reflects the payment of the bond's principal amount to the bondholders. If there are no premiums or discounts involved, this is a straightforward transaction, as no gain or loss is recorded. The journal entry would look like this: Debit: Bonds Payable Credit: Cash
What is a compound entry?
Accounting: A journal entry that has more than one debit or credit value
Invested 1500 into business plus supply value 500. what is the accounting journal entry for this problem?
Invested $1500 to start the business plus supply value $500. what is the accounting journal entry for this problem?
What is the journal entry for amc?
To provide an accurate journal entry for AMC, it would depend on the specific transaction being recorded (e.g., a purchase of shares, sale of shares, or recognition of revenue). For example, if AMC issued shares and received cash, the journal entry would be: Debit Cash (for the amount received) Credit Common Stock (for the par value of the shares) Credit Additional Paid-In Capital (for the amount above par value). Please specify the transaction type for a more tailored response.
Journal entry for sales and sales return?
Journal entry for booking a sale:Accounts Receivable/Party [Debit] $value$Sales [Credit] $value$Tax on sales (GST. excise, etc.) [Credit] $value$Primarily, it is a reversal of the entry passed at the time of booking the sale:Sales [Debit] $value$Tax on sales [Debit] $value$(GST. excise, etc.)Accounts Receivable/Party [Credit] $value$
Issued capital vs subscribed capital?
Issued capital refers to the total value of shares that a company has made available to shareholders, while subscribed capital is the portion of issued capital that shareholders have committed to purchase. Essentially, all subscribed capital is part of issued capital, but not all issued capital is necessarily subscribed if shares remain unsold. The distinction is important for understanding a company's funding status and shareholder commitments.
What is journal entry for fixed assets received as gift?
When fixed assets are received as a gift, the journal entry would typically be: Debit - Fixed Asset (at fair value) Credit - Donation Revenue (at fair value) This recognizes the receipt of the fixed asset at its fair value and records the donation revenue for the fair value of the gift.
What is journal entry for market price of stock?
stock is recorded at book value and not on market price in original books of accounts
Is a compound entry in the general journal is made to close expense accounts?
A compound entry in a general journal is any entry that has more than one debit or credit value. A compound entry is used to close the expense accounts because you will need to credit all of the expense accounts, then debit either the Income Summary, or the Capital itself.
What is the paid up capital for shares in companies?
Paid-up capital refers to the amount of money a company has received from shareholders in exchange for shares of stock that have been issued. It represents the total value of shares that shareholders have fully paid for, as opposed to authorized or issued shares that may not yet have been paid for. This capital is essential for a company as it provides funding for operations and growth, reflecting the financial commitment of its shareholders.
Journal entry for Issuing Par Value Common Stock to another company?
[Debit] Cash / bank [Credit] share capital
What is the journal entry for an asset such as a typewriter given to a son as a gift?
When a typewriter is given as a gift, there is no journal entry for the giver, as it does not impact their financial records. However, if the recipient were to record the receipt of the typewriter as an asset, the journal entry would be a debit to the asset account (Typewriter) for the fair market value of the typewriter and a credit to a gift income account for the same amount. This reflects the increase in assets due to the gift received.
